The twin impact of globalization and digitization is deeply affecting how technology and innovation are managed in firms. This contributed volume analyzes the changing dynamics in the interplay of technology, business and society and the resultant implications for innovation management at firm and policy levels. Leading experts connect global megatrends with open & user innovation, globalization of R&D, frugal innovation, sustainability and innovation ecosystems. The contributed volume is a Festschrift for Prof. Dr. Cornelius Herstatt to mark his 60th birthday.